My Utah is where small businesses thrive, and
where my bank helps big opportunities unfold.
At Bank of Utah, we champion the spirit of small businesses — the driving
force behind our vibrant communities.
Explore the possibilities with our Small Business Administration (SBA) loans,
meticulously crafted to address the unique needs of businesses like yours.
As a Preferred Lender of SBA loans in Utah, we have the resources and
expertise to help you achieve your goals, whether you're just starting out
or looking to expand your existing business.
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The answer lies in key criteria set by the U.S. Small Business Administration. To qualify, your business must be for-profit, owned and operated in the U.S., and meet specific employee and net worth thresholds.
Determining eligibility can be a nuanced process, and we're here to assist you.
Take the first step by completing the form here. Our team will reach out to you as soon as possible to provide more information.
We understand your business moves fast. We do, too. Expect quick answers, flexible solutions and local decision-making.
We prioritize and invest in the customers and neighborhoods we serve, helping local businesses and communities thrive.
As a longtime member of the Utah business community, we are finely tuned to the specific needs of businesses in this region.
First, you must understand that the SBA does not directly lend money to businesses. Instead, it collaborates with approved lenders, including banks.
Bank of Utah is a Preferred Lender with the SBA. This status gives the Bank greater authority to make credit decisions and review and administer loan applications before sending them to the SBA for final approval. This means you get local decision-making at an accelerated pace.
SBA loans must be used for "sound business purposes". This includes:
Depending on the type and size of your SBA loan, different types of fees may be assessed. The SBA has reduced fee waivers in place for the 2024 fiscal year. Ask us about this.
SBA allows loans up to $5 million.
Our dedicated SBA team is here to assist you. By sharing details about your business, we can provide personalized insights, ensuring that the information you receive is tailored to your specific needs.
Complete the inquiry form, and one of our SBA administrators will be in touch to help you make informed decisions.